Module 6 • The marketing plan
Activity 13
Complete the “Marketing Plan” section of your business plan. Keep the following guide questions in mind while compiling your marketing plan.
Guide Questions • What is the product that you are going to sell? • How does it compare with your competitors in terms of price and quality? • Where will your business be situated? • In which geographical area will you do business? • Who exactly will buy your product (target market)? • What is your sales forecast? • Who are your competitors? • What is your selling price? • What promotional measure will you use to sell the product? • How will you distribute your product?
Activity 14 STOKVELS: FOUR SISTERS LADIES’ CLUB
Vuyiswa Lurai, secretary of Four Sisters said not one member had failed to make a payment in the two years of the existence of Four Sisters. Applicants are carefully screened by the group before being accepted, and once aboard, they are subjected to stiff fines for offences such as arriving late at meetings.
The standards for the food are demanding and members are judged by their colleagues after each party to determine whether the buffet was worth the money each member and guest had paid. If a host’s food is found to be lacking, she must pay in the difference as a penalty. Turnout at your party depends in part on how loyally you have supported the parties of other stokvels. The most popular and supportive hosts attract guests from far away – including some who spotted a particular stokvel event by chance.
The power of social glue in the stokvel is apparent: these women know one another well and depend on one another when personal crises arise. They have also joined hands to assist street children in the area. However, the main goal is inward-looking – to care for the well-being of the closed circle of the stokvel members and to support the group’s common purpose. 1. You want to advertise the Four Sisters stokvel. Select ONE advertising medium that you would suggest, and explain why.
2. Draw up the stokvel advertisement for the advertising medium you have suggested in question 1, and apply the principles of a good advertisement.
3. Vuyiswa requires more information from partygoers about her members’ parties. Compile a questionnaire for the Four Sisters stokvel. The questionnaire must include FIVE questions related to stokvel parties and must meet the requirements for a good questionnaire.
4. Given the target market of the Four Sisters stokvel, suggest FIVE aspects that should be taken into consideration when screening new members for the stokvel.
5. Controlling the money is important for the running of a successful enterprise. What procedure should the Four Sisters stokvel follow concerning the control of the cash and the inventory? Marks will be allocated for relevant answers from the case study only. 6. Complete an organisational chart for the Four Sisters stokvel.
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